Large Gold-In-Soil Anomaly At The Tip Top Project

OTTAWA – Gold79 Mines Ltd. reported results from its recently completed soil geochemical survey at its Tip Top Gold-Silver Project located in Nye County within the Walker Lane gold belt of southern Nevada. Chairman, Gary Thompson, said, “Our recent exploration work at the Tip Top Project has identified a northeast-trending, multi-kilometer long gold-in-soil anomaly. This anomaly encompasses the known gold mineralization at Tip Top but also suggests that the hydrothermal system is more extensive than previously thought.”

Highlights: Gold-in-soil results reveal a pronounced multi-kilometer northeast-trending anomaly; The soil results also highlight a large mercury anomaly associated with the gold-in-soil results; Mapping and sampling conducted in 2020 have identified the structural controls on gold mineralization as well as zoned alteration and metals related to gold mineralization; Sampling of the Tip Top vein has returned values up to 6.7m of 11.8 g/t Au and 4.7m of 10.3 g/t Au across the vein and confirms previous sampling and drilling in the area; and Mapping has identified an additional, broad mineralized zone about 50 meters into the footwall of the historical Tip Top vein system. Extensive opaline, banded chalcedony vein and vein breccia contain gold values up to 2.02 g/t Au and mercury values up to 184 ppm.

These field studies support our belief that there has been minimal erosion of the Tip Top gold system and high gold grades identified in drilling represent the upper extent of an ore shoot. Additional parallel structures provide Gold79 additional short-term targets in the Tip Top mine area. The gold-in-soil and mercury-in-soil results corroborate structural and alteration mapping to the northeast of the Tip Top mine. The ‘bonanza’ horizon appears to be displaced to the northeast and concealed beneath a cap of altered volcanics characteristic of vapor phase dominated processes producing clays, opalite and primary iron oxides.